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    821-823 E College Ave Princeton, TX 75407

    Sponsored
    For Sale
    $489,800

    Duplex - Princeton, TX

    Type:Duplex
    Lot size:
    0.17 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 7 at 8:06 am

    Property Features for 821-823 E College Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    8
    Bathrooms
    6
    APN
    R9088000022A1
    Parking
    1
    Parking features
    Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    High Speed Internet Available, Open Floorplan, Walk-in Closet(s)
    Exterior features
    Covered Patio/Porch, Rain Gutters, Storage, Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Microwave, Range, Refrigerator, Washer
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2014
    Floors in Building
    2
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Katy Peres

    Fathom Realty LLC (888) 455-6040

    Listing agent Katy Peres (888) 455-6040 License #0578352

    Listing date Feb 6, 2026

    MLS# 21172078 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Princeton Duplex: Investor Opportunity

    This duplex, constructed in 2014, presents an investor opportunity. Each side features 4 bedrooms, 2.5 bathrooms, and a 1-car garage. Interior finishes include granite countertops in the kitchen, dining, and living rooms, complemented by tile flooring. Each unit also includes a fenced backyard, a covered patio, and a small storage shed. Located in the rapidly growing city of Princeton, Texas, the property is situated less than 10 miles from both 380 and 75. A playground is located nearby. The property is within walking distance of Godwin Elementary School. One unit is tenant-occupied until the end of April 2026, while the other is on a month-to-month lease. Each duplex is currently leased at $1,775, which includes lawn maintenance and AC filter replacement provided by the landlord. The lot size is 0.168 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Princeton
    County
    Collin
    State
    Texas
    Longitude
    -96.49111
    Latitude
    33.182664

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    FAQs

    What type of property is this?
    Duplex - Well-kept duplex in rapidly growing Princeton, TX. Great investment!
    Where is this duplex located?
    The property is located at 821-823 E College Ave Princeton, TX.
    What is the asking price?
    The asking price for this property is $489,800.
    What are key features of this property?
    This property features: - Dual Duplex Investment: Purchase two duplexes (821 and 823 E College) together.; - Strong Rental Income: Generating $1,775 per month per unit.; - Modern Construction: Built in 2014.
    (888) 455-6040
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    821-823 E College Ave Princeton, TX 75407
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    821-823 E College Ave Princeton, TX 75407
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    We can help!
    Listing Contact
    Katy Peres
    Real Estate License ID: 0578352
    (888) 455-6040
    Learn more
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